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US authorities said Monday that Taiwan's China Airlines agreed to plead guilty to participating in an international price-fixing conspiracy and to pay a $40m criminal fine.
"China Airlines engaged in a conspiracy to fix the cargo rates charged to customers for international air cargo shipments to and from the United States," the department of justice (DoJ) said in a statement.
The felony charge, which covered the company's role in price fixing from 2001 to 2006, was filed Monday in a federal court, the department said.
Under the plea agreement, China Airlines said it would cooperate with the department's ongoing antitrust investigation in the air transportation industry, it said. The plea agreement is subject to court approval.
The latest charge in the broad US international probe brings to 18 the number of airlines charged, including Northwest Airlines, British Airways, Air France, Cathay Pacific, Qantas Airways and SAS Cargo Airlines, among others.
Eight airline company executives have also been charged, and four of them have been sentenced to prison.
More than $1.6bn dollars in criminal fines have been imposed to date, the department said.
China Airlines, Taiwan's leading carrier, earlier said that it had agreed to sign a plea agreement with the DoJ, under which it will pay the fine in annual installments over five years.
"If approved by the court, the agreement will resolve the DoJ investigation as to China Airlines," the airline said in a statement.
"China Airlines engaged in a conspiracy to fix the cargo rates charged to customers for international air cargo shipments to and from the United States," the department of justice (DoJ) said in a statement.
The felony charge, which covered the company's role in price fixing from 2001 to 2006, was filed Monday in a federal court, the department said.
Under the plea agreement, China Airlines said it would cooperate with the department's ongoing antitrust investigation in the air transportation industry, it said. The plea agreement is subject to court approval.
The latest charge in the broad US international probe brings to 18 the number of airlines charged, including Northwest Airlines, British Airways, Air France, Cathay Pacific, Qantas Airways and SAS Cargo Airlines, among others.
Eight airline company executives have also been charged, and four of them have been sentenced to prison.
More than $1.6bn dollars in criminal fines have been imposed to date, the department said.
China Airlines, Taiwan's leading carrier, earlier said that it had agreed to sign a plea agreement with the DoJ, under which it will pay the fine in annual installments over five years.
"If approved by the court, the agreement will resolve the DoJ investigation as to China Airlines," the airline said in a statement.
